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High Deductible plans F and G
- Thread starter Midwest Broker
- Start date
I'm on hold right now to verify this information.
Have LD call. Oh, that's right, he cant.
Mama told me I can get Google and college educated, but i wont know Jack chit until I actually work in the job.
When he starts actually selling, I bet the content in his posts change in a positive way.
It's like a doctor who hates a patient that comes in with dr Google questions and comments.
Or your carrier wholesaler, who you train, because they've never sold a policy.
I just hope agents on this forum dont go to jail.
_____
Some states AARP allows you to move from F to G with phone call and no UW. Like Florida. AZ is no longer allowed. Its state by state.
When I got a 30 day notice, most of my clients moved to G. I'm sure or hope many agents did the same
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You're mixing up sales skills vs Governmental Policy. They are not mutually exclusive.
There's no need to sell insurance to know insurance law.
PS:
I don't believe anyone is implying anyone is going to jail for saying, "Plan F is going away."
I do think that if CMS and state insurance commissioners feel that Plan F or C phase out for new enrollees becomes coercive, they will establish guidelines to hold agents to account, which would be fines or suspension of licensing.
AARP not mentioning F is not the same as saying, "plan F is going away, you're going to lose your insurance" as what's kind of described in Chaz's story.
I think often, especially online, people go to a zero sum game.
"I'm not going to get fined if I tell people Plan F is going away and will be unavailable to new people in Ja "
Probably not, because you're educating claimants that a change in Medicare is possibly going to adversely affect them concerning rate increases.
However, if you tell someone, "Buy Plan G. Plan F going away and you're going to lose your insurance and you can't be underwritten anywhere else." You deserve accountability.
LD isn't saying you will be fined. He's saying CMS and Insurance Commissioners could crack down on it..
Treat people the way you want to be treated. Acting like you have some killer insight on information that is publicly available just because you have an insurance license is hogwash. While that may be the case if the person is completely uneducated, not so much when they actively participate in reading and researching the program.
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I can truthfully say and tell anyone that Plan F is going away. You see, after it is no longer available for sale, all those Plan Fs will eventually switch or die. So therefore, eventually it WILL go away. It's a matter of semantics, but I welcome CMS or any other entity to argue with me!
I wonder if I will lose my license if I sell plan F instead of G:
1. Since my commission is higher on plan F
2. It costs $30 more a month to pay $185 deductible, spending grandma's limited retirement savings.
Or 3. That starting Jan 1st, millions of younger healthy people will be buying plan G for the next decade, but my client will own something special with a bunch of aging and higher claim clients.
1. Since my commission is higher on plan F
2. It costs $30 more a month to pay $185 deductible, spending grandma's limited retirement savings.
Or 3. That starting Jan 1st, millions of younger healthy people will be buying plan G for the next decade, but my client will own something special with a bunch of aging and higher claim clients.
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This is a strawman argument.
Specifically, the question is are you being coercive?
If you are educating, that's not likely to get you in trouble. If you are intimidating, you deserve to be fined or lose your license.
Personally, if you're being factual in your presentation and picking the plan that the client wants after you educate them, then I would say you're good.
CMS and the state Commissioners make the guidelines and interpret them. This may or may not happen, which is more the takeaway I got from LD's stance.. Again zero sum game for some people.
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Long time client changed last year. Originally with New Era F plan. Been trying to get her to change for a few years now. Her last increase opened her eyes so she agreed to change.
Suggested plan G for $70/mo savings.
Her friends told her not to EVER give up the F plan. She won't be able to replace it. (Their words, not mine).
So I switched her from F with New Era to F with PALIC. Saved $30/month.
She is happy.
I get a new FYC.
Suggested plan G for $70/mo savings.
Her friends told her not to EVER give up the F plan. She won't be able to replace it. (Their words, not mine).
So I switched her from F with New Era to F with PALIC. Saved $30/month.
She is happy.
I get a new FYC.
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This is legit to me, not that my opinion matters. Just using as an example.
Educate, then they make their own decision. People are adults. However, when someone that's regulated uses intimidation, that's where you'll get into trouble.
My clients ask for and depend on my advice. My advice is plan G. My clients trust me and buy plan G.
Clients want your opinion most of the time, not a full education where they get confused and cant make a decision.
I will let you know when someone gets screwed on plan G. Hint: Never.
Clients want your opinion most of the time, not a full education where they get confused and cant make a decision.
I will let you know when someone gets screwed on plan G. Hint: Never.
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